代写TABL 2741 BUSINESS ENTITIES PRACTICE Examination代做留学生SQL 程序

日期：2024-08-08 05:24

TABL 2741 BUSINESS ENTITIES

PRACTICE Examination

ANSWER ALL QUESTIONS (TOTAL: 50 MARKS)

Note: Questions 1-6 are worth 5 marks each (total of 30 marks); Question 7 is worth 20 marks.

Question 1

Explain how a company, a legal fiction, can contract and be bound to a defective contract.

Question 2

Chapter 6D of the Corporations Act 2001 (Cth) emphasises the value of disclosure. Therefore, all companies must issue a fundraising document when raising funds from the public.  Do you agree?  If so, why? If not, why? Answer with reference to the Corporations Act 2001 (Cth).

Question 3

The future of the annual general meeting was under the threat of abolition by the government. Explain the relevance and operation of the annual general meeting, under the Corporations Act 2001 (Cth), for company members.

Question 4

The statutory provisions dealing with statutory demands are the most litigated in the entire Corporations Act 2001 (Cth).  With reference to the statute, explain the purpose and operation of a statutory demand.

Question 5

The language and history of the ‘oppression ’ remedy shows that it offers abroad discretionary remedy.  Discuss,with reference to relevant legal principles, the meaning and operation of the ‘oppression ’ remedy under the Corporations Act 2001 (Cth).

Question 6

Answer either Q 6 (a) or (b)

(a) It is said that members of a company are not expected to assume responsibility for managing corporate activities or to exercise directors’ powers.

Do you agree? If not, why not?  Discuss with reference to company law.

OR

(b) Schemes of Arrangements and Voluntary Administration share a common goal. Both types of external administrations seek to facilitate corporate rescue. With reference to the Corporations Act 2001  (Cth), compare and contrast the operation of scheme of  arrangements with voluntary administration.

Question 7 (20 marks)

Only consider the Corporations Act and the case law relevant to corporations and directors in your answer.

Lee is a successful chemical engineer with expertise in petroleum products.   In November 2022, upon request by, and as a favour to, his friend Alex, Lee became a non-executive director of NSW Service Stations Ltd, a company which owned and operated a number of services stations in New South Wales. Alex is the managing director of the company.

By agreement, Lee did not take a director’s fee for sitting on the board of NSW Service Stations Ltd. Lee rarely attended board meetings and relies on Alex, who has qualifications in accounting, for information about the financial affairs of NSW Service Stations Ltd. Lee explained to Alex that he saw his role as non- executive director to be confined to “planning and policy-making” and, besides, Lee also said to Alex that “I’m an expert in chemical engineering, not in financial matters.”

Over a period of twelve months, from February 2022 to February 2023, NSW Service Stations  Ltd experienced several episodes of cash flow shortages in its business operations. In March 2023,a liquidator is appointed to NSW Service Stations Ltd.  The company has suffered loss in excess of a million dollars. An investigation of the affairs of NSW Service Stations Ltd by the liquidator found the following:

•    that NSW Service Stations Ltd had to replace petrol pumps at a net cost of over $800,000 due to the board’s decision to import these items, from Techno Pty Ltd, which were non-complaint with Australian safety standards. The company’s  contract with Techno Pty Ltd was in the sum of $400,000.  An independent expert’s report to the Board had earlier recommended, in preference, the purchase of locally manufactured petrol pumps which complied with Australian standards. Alex is a major shareholder in Techno Pty Ltd;

•    that the interim  financial accounts presented at the monthly Board meeting in December 2022 correctly indicated a cash flow problem. The minutes of the meeting records Lee’s attendance at this meeting.

ASIC seeks your advice as to whether any legal action may be taken against Lee and/or Alex to recover money as a result of a breach of their duties as directors of NSW Service Stations Ltd, other than arising out of insolvent trading, under:

a)   general law  (7.5 marks) and

b)  pursuant to the Corporations Act (7.5 marks)

and

c)   Assume breaches of directors ’ duties have been identified. Advise ASIC of the likely legal

consequences with reference to the Corporations Act 2001 (Cth).  (5 marks)